VIETNAM BUSINESS NEWS MAY 30
15:51 HoSE applies new
trading rule for restricted stocks  The Ho Chi Minh City Stock Exchange (HOSE) has announced a decision on regulating trading time for restricted stocks on the bourse. Stocks subject to trade
under restriction on HOSE can only be traded in the afternoon session of the
trading day by centralised order matching and put through trading methods. The decision takes effect
from the date of signing, which was May 25, and the amendment and
supplementation of this decision was decided by the General Director of HOSE
after being approved by the Chairman of HOSE. On May
25, HOSE announced to list LCM shares of Lao Cai Mineral Exploitation &
Processing JSC in restricted trading starting from May 25, due to late
submission of the 2021 audited financial statements. Therefore, from May 26,
LCM shares can only be traded in the afternoon session by the method of
centralised order matching and put through trading. Recently,
HOSE announced the transfer of three stocks in the FLC family, which are FLC
Group (FLC), FLC Faros Construction JSC (ROS) and HAI Agrochem JSC (HAI),
from controlled to restricted trading list from June 1. This
means all three stocks can only be traded in the afternoon session of the
trading day by centralised matching and put through trading methods. CAAV proposes three options to upgrade
Con Dao Airport The
Civil Aviation Authority of Vietnam (CAAV) has proposed to the Ministry of
Transport three investment options to upgrade Con Dao Airport, in the
southern province of Ba Ria – Vung Tau. If the
airport is invested in and upgraded, it will be able to receive larger
aircraft, bringing efficiency in operation, promoting socio-economic
development and tourism in the Con Dao island district. Con Dao
Airport is currently only operated by Vietnam Airlines and Bamboo Airways
with ATR72 and Embraer E195 aircraft. On May
12, ACV's Board of Directors submitted the plan for 2022 to the Committee for
Management of State Capital at Enterprises about the passenger terminal and
aircraft apron project at Con Dao Airport. If ACV
does not invest in an aircraft apron as planned between 2022 and 2024, Con
Dao Airport will no longer have an aircraft apron. CAAV
recommends the first option and proposes the Ministry of Transport works with
the Committee for the Management of State Capital at Enterprises to soon
approve the investment plan of ACV in the 2021-2025 period. CAAV
also proposes to adjust the kick-off plan of the runways and taxiways
project. The preparatory work will be done in 2022, selecting a contractor in
2023 and completing the project in 2024. Banks told to rollout low-interest
businesses loans Commercial
banks were told to launch a 40 trillion VND support package with a 2 percent
yearly rate cut for businesses in a meeting with the State Bank of Vietnam
(SBV) last week. By May
20, Vietnam economy's credit growth was at 7.66 percent, double the figure
from the same period last year. More importantly, the growth has been
recorded in all major economic sectors including those that have been
struggling since the start of the COVID-19 pandemic, such as tourism,
transport and services. It has
been vital during a time when businesses desperately require capital to
resume operations after a long hiatus and recent turbulence in the stock
market. The
support package, approved under the 15th National Assembly's Decree No
43/2022, is the first to use State funds to support post-pandemic economic
recovery through commercial banks. It was designed to include and grant
capital access as well as low-interest loans to small-to-medium sized
enterprises (SMEs), cooperatives and economic households. The
package, said to be working in tandem with current stimuli, aims to help
businesses and households resume business operations, restore supply and
demand and jumpstart the economy, according to the central bank. During
the meeting, the SBV asked local authorities to closely coordinate with
commercial banks to ensure the process's transparency, fairness and
efficiency. On the other hand, the central bank said it was to step up
inspection and oversight to minimise abuses and exploitations of State
capital. Fitch Ratings maintains standalone
credit profile of PV Power at BB+ Credit ratings agency Fitch Ratings has assigned the
PetroVietnam Power Corporation (PV Power) a Long-Term Foreign-Currency Issuer
Default Rating (IDR) of “BB” with a positive outlook for the second
consecutive year. PV Power
is the first Vietnamese power producer and the first unit of PetroVietnam to
be assigned an international credit rating. According
to the agency, PV Power's Standalone Credit Profile (SCP) is driven by its
strong market position as the second-largest electricity producer in Vietnam,
accounting for around 7 percent of the country's total electricity output and
6 percent of installed capacity in 2021. It also
benefits from diversified fuel sources, long-term power-purchase agreements
(PPAs) with EVN, for more than 80 percent of its electricity output and a
strong financial profile, it said. Five month import-export turnover up
15.6 percent Vietnam’s
import-export turnover during the first five months of this year reached
305.1 billion USD, a year-on-year increase of 15.6 percent, according to a
report released on May 29 from the General Statistics Office of Vietnam
(GSO). Of the
total, Vietnam reported 152.81 billion in export revenue, a year-on-year
increase of 16.3 percent. Twenty-six
groups of commodities posted an export value of over 1 billion USD each, with
six with over 5 billion USD, in the first five months of 2022. Together they
accounted for 89.6 percent of the country’s total export, of which
manufacturing industry accounted for 88.6 percent (0.5 percent decrease from
the same period last year), seafood 3.1 percent (0.6 percent increase) and
agricultural and forestry products 6.9 percent (0.5 percent decline). Meanwhile,
imports turnover reached 152.29 billion USD, a 14.9 percent increase
year-on-year with the domestic sector accounting for 53.36 billion USD and
the foreign-invested one 98.93 billion USD, up 14.7 percent and 14.9 percent,
respectively. The US
remained Vietnam's largest export market with an estimated turnover of 46.7
billion USD, while China was the largest import market with 49.6 billion USD
in the first five months of 2022. Viet Nam's five month FDI disbursement
up The
Government and relevant agencies’ continual and effective assistance, along
with efforts by enterprises to weather the pandemic and adapt to the new
context, have helped firms gradually recover, maintain, and expand
operations. That’s why the disbursed capital has been rising over the past
months, the agency explained. Though
the registered capital in the five-month period, $11.71 billion, was
equivalent to just 83.7 per cent of the figure in the same period last year,
only investment in new projects declined by 53.4 per cent to $4.12 billion
while the capital poured into existing projects surged 45.1 per cent to hit
$5.61 billion. Capital
contributions and share purchases by foreign investors also witnessed a
significant year-on-year rise of 51.6 per cent to $1.98 billion. The FIA
said in its latest report that despite the COVID-19 pandemic’s adverse
impacts, foreign investors still put their trust in the economy and
investment climate of Viet Nam in the new normal context, and decided to
expand their projects in the country. Among
typical capital-added projects include the Thai Nguyen Province-based Samsung
Electro-mechanics Vietnam project, which increased its capital by $920
million, and three plants for manufacturing electronics, network equipment
and multimedia audio products in three localities of Bac Ninh, Nghe An and
Hai Phong which hike their investment by nearly $306 million, $260 million
and $127 million respectively. Viet Nam shows potential in US fruit
exports During
Prime Minister Pham Minh Chinh's trip to the US in early May, Vietnamese
businesses accompanying the Prime Minister met US companies, and the two
sides signed many fruit export contracts to the US market, according to
Trung. Accordingly,
besides fresh fruit, exports of some frozen fruit products, such as frozen
durian and many other kinds of fruit are expected to increase strongly to the
US. In
addition, Minister of Agriculture and Rural Development Le Minh Hoan and the
US Secretary of Agriculture agreed on solutions to remove technical barriers
to promoting the export of Vietnamese agricultural products to the US. On May
17, the US Animal and Plant Health Inspection Service (APHIS) officially
granted a certificate of irradiation treatment facility for the Toan Phat
Irradiation Co. Ltd., Trung said. Le Son
Ha, head of the Plant Quarantine Division, Department of Plant Protection,
said irradiation treatment was a mandatory requirement under US plant
quarantine regulations for exporting fresh fruit to the US. With the
US' latest decision, Viet Nam has two APHIS-certified irradiation treatment
facilities, including Son Son Corporation, the management unit of Son Son
Irradiation Factory in HCM City and Toan Phat. These two facilities have a
total irradiation capacity of 30,000 tonnes per year. This will be a
favourable condition for enterprises to export Vietnamese fresh fruit to the
US market. Long An to maintain its leading
economic position in Mekong Delta At the
start of the year, the province issued a socio-economic development programme
for 2022 to assist struggling workers and businesses, facilitate production
and utilise local specialities to speed up economic development. Long
An’s gross regional domestic product (GRDP) in the first quarter of the year
reached VND22 trillion (US$943.5 million), a 2.83 per cent rise year-on-year. It has
been providing an abundance of competitively-priced land plots and calling
for investments into its traffic infrastructure since the start of the year. According
to many businesses, Long An has been making great efforts to create a
favourable environment for investors. Many of them also had their investment
certificates issued within a day of making their submissions. Long An
is Viet Nam’s second-largest FDI attraction in 2021, partially thanks to its
effort in administrative procedure reforms. The
province aims to maintain its leading position in terms of economic
development in the Mekong Delta. National petroleum management database
system launched MoIT
said the system would enhance the state management of petroleum, prevent
illegal practices in the fuel business and help the authorities balance
petroleum supply and demand. In the
first phase of development, two petroleum producers, 38 wholesalers and 329
distributors were given accounts to sign up. Data
uploaded to the system and its relevant applications will strictly with
regulations on data reporting and information security. The MoIT
said it will continue to work closely with MoIC to refine the system, thereby
further improving the state management of petroleum through the application
of IT. Viet Nam
has 38 petroleum wholesalers, 329 distributing traders and 17,000 retailers
so far. Total petroleum supply is expected to reach 6.7 million cubic metres
in Q2, including 3.7 million from domestic production, 1.5 million from
imports and 1.5 million in reserve. Market likely to enter recovery wave:
experts However,
with the VN-Index approaching the psychological resistance level of 1,300
points and after gaining for two consecutive weeks, the market is likely to face
a correction. If any, it is not necessarily negative but will create an
opportunity for the market to accumulate before having more positive moves,
said experts from Saigon - Hanoi Securities JSC (SHS). The
market fell earlier last week, but rebounded in the following four sessions,
helping the VN-Index to close near the highest level since May 11. On the
Ho Chi Minh Stock Exchange (HoSE), the benchmark VN-Index ended last week at
1,285.45 points, up 1.33 per cent, while the HNX-Index on the northern bourse
- the Ha Noi Stock Exchange (HNX) - dropped by 0.68 per cent to finish the
last trading session at 311.17 points. For the
week, the VN-Index climbed 3.6 per cent and the HNX-Index rose 1.35 per cent. Trading
value on HOSE increased by 7.7 per cent from the previous week to nearly
VND73.2 trillion (US$3.1 billion), equal to a gain of 5.6 per cent in the
trading volume to 2.89 billion shares. The
trading value on the HNX also edged up 3.8 per cent over the previous week to
over VND8.8 trillion, equivalent to the trading volume of 405 million shares,
up 2.8 per cent. Meanwhile,
foreign investors were net sellers on both main exchanges with a value of
about VND348 billion, with a volume of 10.55 million shares. Of which, Hoa
Phat Group (HPG) was sold the most with 9.5 million shares. It was followed
by VNDirect Securities Corporation (VND) with 9.5 million shares and SSI Securities
Corporation (SSI) with 8.8 million shares. On the contrary, they net bought
the most of Dragon Capital Vietfund Management (FUEVFVND), with 16 million
fund certificates. From the
technical analysis point of view of SHS, the market’s recovery trend is
receiving support, with the VN-Index bouncing off the psychological
resistance level of 1,200 points last week to confirm the end of the
correcting wave and entering a recovery wave with the nearest theoretical
target of around 1,300 points. However,
if the market weakens again and the benchmark can not hold the threshold of
1,200 points, the market will once again return to the correcting wave, but
this possibility is not high, the securities firm added. On the
other hand, although it has recovered strongly, the market valuation is still
quite attractive for long-term investors with the price per earning ratio
(P/E) of the VN-Index and the 30 biggest stocks tracker VN30-Index of around
14x, lower than the 5-year average. With the
recovery of the economy after the pandemic and business results of listed
companies also showing impressive growth in the first quarter, the current
stock price level is an opportunity for many long-term investments. However,
investors can wait for a correction to disburse their capital, SHS
recommended. Various summer tours ready for
holidaymakers Many
airlines and tourism companies informed yesterday that they are introducing
millions of flight tickets, interesting tours to serve tourists this summer,
along with attractive promotions from 10-40 percent. It is expected that the
number of holidaymakers will increase significantly in the near future
compared to this time 2019. Vietnam
Airlines, Pacific Airlines, VASCO have prepared 7.1 million seats to
different destinations from June 1 to August 15, a rise of 18 percent as
opposed to the pre-Covid-19 time. Vietravel Airlines has planned to increase
their flight frequency to Da Nang City, Quy Nhon City, Phu Quoc Island, while
introducing new routes to Indonesia, Thailand, and the Republic of Korea
(RoK). This
summer is an ideal time for travel agencies as people have had to stay home
for too long due to the Covid-19 pandemic. Saigontourist is expecting over
280,000 customers in the next few months. It has prepared various tours to accommodate
the needs of different tourist groups. Fiditour - Vietluxtour announced that
besides its regular domestic tours, its international ones to Thailand, RoK,
Australia, the Maldives, and Europe are attracting much attention. Ho Chi
Minh City is launching many interesting city tours to serve both national and
international tourists. Saigontourist, Fiditour - Vietluxtour, TSTtourist all
have helicopter tours to view the city from above, boat tours to enjoy the
fresh air of Saigon River at night, bicycle or horse-drawn carriage tours to
admire the landscapes of Cu Chi District. HCMC
Tourism Association said that this remarkable rise of tourist quantity is
such a positive sign for the industry, and that the localities should
cooperate closely with tourist agencies to help holidaymakers enjoy their
tours to the fullest, minimizing the case of tourist harassment. Da Nang ready for Routes Asia 2022 The
central city of Da Nang has become ready for the 16th Asian route development
forum 2020 (Routes Asia 2022), the largest and biggest event to promote and
connect flight networks in the Asia-Pacific region. The
event, slated for June 4-9, is expected to draw about 450 delegates from 200
international aviation agencies and organisations from Asia, Europe, the
Middle East, and North America. According
to the city Department of Tourism, the department has worked with Informa
Routes and Travel Retail as well as relevant agencies and sectors to make
thorough infrastructure and personnel preparations for the event, including
working session between city leaders and investors. According
to Director of the municipal Department of Tourism Truong Thi Hong Hanh, the
forum is expected to open up great opportunities for the aviation industry in
general and the tourism industry in Da Nang in particular, contributing to
re-opening and developing international routes, attracting investment and
tourism to the central coastal city. In the
framework of the 16th Routes Asia in Da Nang, nine events are planned,
including an exhibition on tourism and aviation; a direct business connection
programme with over 500 meetings between partners on the system of the Asia
route development forum; conferences and workshops on aviation restoration in
Asia and air service development in the new normal; among others. HCM City’s export turnover expands 7.9
percent in Jan-May Enterprises
in HCM City exported 20.7 billion USD worth of goods in the first five months
of 2022, posting a year-on-year increase of 7.9 percent, according to the
municipal Statistics Office. If crude
oil is excluded, export value reached 19.8 billion USD, up 7.3 percent. The
export value of industrial products witnessed the biggest growth in the
period, hitting 12.6 billion USD, 11 percent higher than that of the same
period last year, accounting for 74.9 percent of the total. Of the
figure, computers, electronic products and components raked in 6.85 billion
USD; machinery, equipment, tools and spare parts 1.13 billion USD;
garment-textile 1.8 billion USD; and footwear 1 billion USD, up 4.2 percent,
18.6 percent, 30.3 percent and 8.6 percent, respectively. Notably,
the export turnover of crude oil increased by 24.6 percent to 869 million USD
in spite of a nearly-19-percent decrease in the export volume in January –
May. China
remained the biggest importer of HCM City in the period, spending 4.37
billion USD on imports from the Vietnamese southern hub, up 10.6 percent
year-on-year. It was followed by the US and Japan, with respective values of
nearly 3 billion USD and 1.1 billion USD. HCM
City’s import value was also reported to pick up 11.6 percent in the reviewed
period, reaching 28.44 billion USD. Vietnam aims to meet this year's
export growth target of 8% Despite
existing risks continuing to impact production and exports, the Ministry of
Industry and Trade is still making every effort to fulfill this year’s export
growth target of 8% set by the National Assembly (NA). According
to figures given by the Ministry of Industry and Trade, despite facing an
array of difficulties due to the impact of the COVID-19 pandemic and the
Russia-Ukraine conflict which pushed up fuel prices and transportation
charges, exports and imports continued to see positive growth. This has
therefore made an important contribution to macroeconomic stability and
socio-economic development. Over the
past five months, total export turnover continued to maintain a high growth
rate compared to the same period from last year, with total import-export
turnover estimated to stand at US$311 billion. Of the figure, export turnover
hit an estimated US$156.5 billion, up 29.8% on-year, while imports reached
US$155 billion, an annual rise of 22.6%. The
balance of trade in goods during the five-month period is estimated to have
recorded a trade surplus of US$1.53 billion, thereby helping to increase
foreign exchange reserves, stabilise exchange rates, and contribute to
macroeconomic stability. Among
the three main growth pillars, including investment, export, and consumption,
exports represents one of the important contributory factors to national GDP
growth, this pillar continues to see strong growth, even over the past two
years of suffering from the impact of the pandemic. Most
notably, 2021 saw export turnover reach US$336.3 billion, up 19% from the
previous year, with a trade surplus of roughly US$ 4 billion, while in 2020,
export turnover reached US$282.66 billion, up 7%, with a trade surplus of
more than US$19 billion. FDI sector enjoys trade surplus of
US$10.3 billion over five-month period The
import-export value of foreign direct investment (FDI) firms reached US$187.3
billion during the five months of the year, representing a year-on-year rise
of 14.3%, with exports growing by 13.3% to US$98.8 billion, according to the
General Department of Vietnam Customs. FDI
enterprises raked in a total of US$9.24 billion from exports during the first
half of May, a decline of 30.1% compared to the second half of April. By
mid-May, FDI firms grossed a total of US$98.8 billion from exports, a rise of
13.3% against the same period from last year, and accounting for 73.1% of the
country’s overall export turnover. Meanwhile,
FDI firms’ total import turnover soared by 15.4% to US$88.5 billion compared
to last year’s corresponding period, duly making up 65.4% of the country’s
total import turnover. With
these positive figures from the beginning of the year to May 15, FDI
enterprises racked up a trade surplus of US$10.3 billion. At
present, FDI sector has significantly contributed to the nation’s leading
export groups, including phones and components, computers, machines and
equipment, garments and textiles, and footwear. Hanoi receives up to 85,000 foreign
arrivals in May The
total number of travelers visiting the capital in May stood at an estimated
1.88 million, including 85,000 foreign arrivals, representing a 16-fold rise
compared to the same period from last year, according to figures given by the
Hanoi Department of Tourism. This
strong rebound in Hanoi’s tourism industry in April and May can largely be
attributed to the nation hosting the 31st Southeast Asian Games (SEA Games
31). Most
notably, total tourism revenue during the reviewed period reached VND5.7
trillion, representing an 18-fold increase compared to last year’s
corresponding period. During
the opening five months of the year, the capital welcomed 6.53 million
visitors, including 126,200 international tourists, with total tourism
revenue reaching VND18.9 trillion, marking a two-fold rise against the same
period last year. Full automatic non-stop toll
collection to start on Hanoi-Hai Phong highway on June 1 Full
automatic non-stop toll collection (ETC) will officially start on the
Hanoi-Hai Phong highway at 9am June 1. Vehicles
without ETC tags or insufficient money in ECT accounts will be fined if they
intentionally enter the highway. Under
Point C, Clause 4, Article 5 of Decree 100/2019/ND-CP and revisions under
Decree 123/2021/ND-CP, drivers of such vehicles will face fines ranging from
2-3 million VND and have their driving licences withdrawn for between 1-3
months. Son La suggested as developer of Na
San airport The
national aviation authority has proposed the Ministry of Transport seek the
prime minister’s approval for Son La Province to serve as the developer of
the Na San airport project. According
to the Civil Aviation Authority of Vietnam (CAAV), the Na San airport was
built in 1950 in the northern upland province of Son La. Until the 1960s, the
airport resumed operations after being shut for a long time due to few
passengers. In 1994, it reopened before closing down again in 2004 as its
infrastructure facilities were rundown. Under
the Transport Ministry’s zoning plan about the national airport system
pending the prime minister’s approval, the Na An airport is projected to
operate A320/A321 aircraft or the equivalents by 2030, serving one million
passengers per year. By 2050, the airport’s capacity will double. According
to an orientation scheme on mobilizing private capital, the Na San airport
was classified in Group 3 along with other airports such as Dien Bien, Dong
Hoi, Pleiku, Buon Ma Thuot, Rach Gia, Ca Mau and Con Dao. Ten commodities groups push CPI in May
up 0.38% A hike
in prices of fuels, food and foodstuffs, and necessities has resulted in
Vietnam’s consumer price index (CPI) this month rising by 0.38%
month-on-month, according to the General Statistics Office. Among
the 11 main commodity groups, up to 10 groups marked a month-on-month
increase in prices, and one registered a decline. Due to
two upward fuel price adjustments by 5.93% and 3.99% in May, respectively,
transport services saw the highest increase in prices of 2.34%. The
largest contributor to the overall index is the group of food and catering
services, which recorded a month-on-month rise of 0.27%. Beverages
and tobacco also picked up due to rising input materials and transport costs. Cultural,
entertainment and tourism services inched up 0.74% as prices of package tours
and hospitality services went up by 3.15% and 0.94%, respectively, given
travel demand bouncing back. In the
year to May, CPI rose 2.25% against the 2021 figure but remained lower than
the same period between 2017 and 2020. As for core inflation, which excludes
prices of fresh food, energy and State-controlled healthcare and education
services, it edged up 1.1%. BIDV and MONRE sign MoU to promote
green finance Under
the MoU, MONRE will also support BIDV to strengthen its capability in
environmental risk assessment and to develop criteria for environmental risk
assessment on projects – the prerequisite for the development of sustainable
financial products following international practices and suitable for the
Vietnamese market. In
recent years, climate change is considered a serious challenge on a global
scale, particularly for developing countries, which are vulnerable to and
heavily affected by climate change, such as Viet Nam. At the COP26 held in
November 2021 in the UK, the Prime Minister Pham Minh Chinh made a commitment
to achieving net-zero emissions by 2050; while making several initiatives
that showed Viet Nam’s determination and responsibility to work alongside the
international communities in efforts to respond to global climate change. The
timely implementation of Viet Nam's commitments at COP26 will bring great and
long-term benefits to the country's sustainable development. Nevertheless, it
also requires large financial resources and efficient coordination between
the regulators and the business community. Against that backdrop, the role of
the financial-banking sector should be promoted as a lever and catalyst for
actions and projects to address climate and sustainability challenges. Zalo top messaging app for Vietnamese
children The
research on anonymised data voluntarily provided by Kaspersky Safe Kids
users, such as search queries, popular Android apps and website categories,
helps understand children's preferences and interests in the first quarter of
this year. TikTok
is becoming the fastest growing brand in the world with diverse and limitless
content ranging from entertainment and creativity to education. The
application has attracted the attention and interest of a large number of
Vietnamese kids (11.24 per cent). The next
most popular apps during the period were Facebook (10 per cent) and Chrome
(8.30 per cent). Applications
that support information exchange, such as Zoom (7.79 per cent), Messenger
(7.35 per cent), Teams (6.02 per cent), and Gmail (3.51 per cent), maintained
their popularity amid online learning. Source:
VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes |
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